APR Down Payment Principal 
Shawn Ryder
JANUARY 22, 2025
When considering purchasing a used car in Ontario, Canada, one major financial aspect to be aware of is the Annual Percentage Rate (APR) you might encounter when financing your purchase. In Canada, lenders are legally required to disclose the APR, allowing consumers to better compare financing options from various providers.
Shawn Ryder
JANUARY 18, 2025
The loan is secured by the vehicle itself, meaning if the borrower fails to make payments, the lender can repossess the car. The key components of an auto loan include the principal amount (the price of the vehicle), the interest rate, and the term of the loan (length of time to repay). Here are some strategies: 1.
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